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List three types of consulting services that audit firms have provided to their audit clients in recent years. For each item, indicate the specific threats, if any, that the provision of the given service can pose for an audit firm's independence.
What is the rate of return on common stockholders' equity if sales are $100,000, net income is $22,700, and average common stockholders' equity is $86,000?
Neer's income statement also included $225,000 accrued warranty expense that will be deducted for tax purposes when paid. Neer's enacted tax rates are 30% for 2007 and 2008, and 24% for 2009 and 2010. The depreciation difference and warranty expen..
Present the necessary year end adjusting entry related to uncollecting accounts for each of the following independant assumptions
The Director of Golf for the Links Group wishes to study the number of rounds of golf played by members on week days. He gathered the following sample information for 520 rounds.
Under GAAP, an entry should be made to the bad debt expense account
Income from operations for Division B is $150,000, total service department charges are $400,000and operating expenses are $2,266,000. What are the revenues for Division B?
Lynn transfers land having a $50,000 adjusted basis, an $80,000 FMV and $10,000 cash to Allied Corporation in exchange for 100% of Allied's stock. The corporation assumes the $70,000 mortgage on the land. How much is Lynn's recognized gain?
The head of the corporate tax division of a major public relations firm has proposed investing $295,000 in personal computers for the staff. The useful life and recovery period for the computers are both 5 years.
During the current period, Job No. 337 was charged $425 in direct materials, $475 in direct labor, and $190 in overhead. If direct labor costs an average of $16 per hour, the company's overhead application rate is
During the year, he made the following contributions to recognized public charities: $5,000 cash 1,000 shares of Able Corporation common stock, acquired in 1979 (cost and fair market value of $7,000) Considering the charitable contribution deducti..
Determine the total compensation cost pertaining to the restricted share.
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